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ACT takes ski firm to new peaks

ACT, one of the country’s largest venture capital companies, has invested close to €3.5m in Directski.com, the specialist tour operator which last week paid €3m for one of its main competitors, Belfast-based McNeill Rigby Travel.

“The acquisition allows us to take out a competitor and it opens up the prospect of a move away from the cyclical business of winter sports,” said Tony Collins, the chief executive of Directski.com.

McNeill Rigby, which has operated for 20 years, owns a coterie of established travel brands such as McNeill Menary Business Travel, SkiMcNeill, Fly2theSun.com and Ultimate Horizons.

The deal swells Directski’s staff from 25 to 60 and also gives the company a bricks and mortar presence on the Lisburn Road in Belfast. The new business is expected to generate revenues of more than €40m and to carry around 35,000 ski enthusiasts this winter. Directski.com has grown rapidly in Ireland and in the